Remodeled Mixed-Use
For Sale
$427,000
426 Huron Avenue Sandusky, Sandusky, OH 44870
Downtown property combines a leased storefront with four residential units, including one two-bedroom and two one-bedroom apartments.
Property Size5,014 SF
Days on Market54
Property Features for 426 Huron Avenue Sandusky
General Information
Standard status
Active
Size
5,014 SF
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Additional Details
Gross Income
$40,800
Taxes and HOA fees
Annual Taxes
$5,980
Amenities
garage
Storage Space,Unfinished
true
Public
1
Assessor
Off Street,On Street
5014
Building Details
Building Size
5,014 SF
Year Built
1920
Year Renovated
2023
Buildings
1
Tenancy
Multi
Listing Agency:
(330) 590-5379
Listed By:
Dean Wentzel
(330) 590-5379
Source:
Akroncantonhomesonline
Added: Jul 8
Changed: Aug 30
Last Checked: Aug 30 at 1:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dean Wentzel
Investment Insights
Based on property information with market context.
Built in 1920 and remodeled in 2023, this mixed-use building at 426 Huron Avenue combines a commercial storefront with four total units. The residential component includes one two-bedroom apartment and two one-bedroom apartments, while the storefront is leased to a tattoo artist. Three residential units are being repaired and prepared for occupancy.
The property is located in downtown Sandusky, within walking distance of restaurants, breweries, festivals, shops, and lakefront attractions. An older garage at the rear provides additional storage space. The sale is offered as-is.
The property is located in downtown Sandusky, within walking distance of restaurants, breweries, festivals, shops, and lakefront attractions. An older garage at the rear provides additional storage space. The sale is offered as-is.
Key Highlights
- 4‑unit mixed‑use property with a commercial storefront and 3 residential apartments
- Residential mix includes one 2‑bedroom apartment and two 1‑bedroom apartments
- Remodeled in 2023; original construction dates to 1920
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,784
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$335,680
$335.7K
Cap Rate 7%
$239,771
$239.8K
Cap Rate 9%
$186,489
$186.5K
Market Conditions
NOI Build-Up for 5,014 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.4K $5.86/SF
− Vacancy
−$2.5K −$0.50/SF
EGI
$26.9K $5.36/SF
− OpEx
−$10.1K −$2.01/SF
NOI
$16.8K $3.35/SF
Area
Erie County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$335,680
Cap Rate 7%
$239,771
Cap Rate 9%
$186,489
Alternative Uses
Best Use
Apartment 5plus
$48.08M
$42.07M – $56.09M
NOI $3,365,259 @ 7.0% cap · market cap 788.12%
Second Best
Retail
$1.30M
$1.13M – $1.51M
NOI $90,784 @ 7.0% cap · market cap 21.26%
Theoretical Best
Multifamily LT 5
$55.18M
$48.28M – $64.37M
NOI $3,862,498 @ 7.0% cap · market cap 904.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 44870, OH
40,416
Population
19,991
Households
2
Avg Household Size
43
Median Age
25%
College-Educated
90%
High-School Grad
60.7 sq mi
ZIP Area
666
Density / Sq Mi
$58,797
Median Household Income
$36,056
Median Earnings
$863
Median Rent
$148,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines a leased storefront with four residential units, including one two-bedroom and two one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 426 Huron Avenue Sandusky Sandusky, OH.
What is the asking price?
The asking price for this property is $427,000.
What are key features of this property?
This property features: 4‑unit mixed‑use property with a commercial storefront and 3 residential apartments; Residential mix includes one 2‑bedroom apartment and two 1‑bedroom apartments; Remodeled in 2023; original construction dates to 1920
